From BAD (V1) to GREAT (V2)! Catcoin’s first contract was launched in late 2021 by a group of unknown developers. These developers promised outlandish utility, but never made any steps on delivering. Abandoning the project, they renounced the contract, but not before leaving a few secret bags – They locked tokens in liquidity while leaving unpaid tokens across several wallets which were incrementally sold off on the chart over the following months, thus taking advantage of Catcoin investors.
The initial contract itself was given NO marketing wallet, a very low liquidity ratio with no liquidity tax, and reflections. This is a very high-risk combination considering low liquidity allows charts to be manipulated by large whales, while they can simultaneously receive reflections as rewards for doing so. Still V1 attracted a large community who saw the viral potential of the Catcoin. During this time, amazing teams for marketing, moderation, creatives, tech, and core management were established by volunteers from the community.
With these teams in place, the coin still managed to achieve a higher market cap, but due to its poor tokenomics and vulnerabilities, lack of marketing funds, and hidden whales dumping and swing trading on the chart, the pumps quickly evaporated, and reality set it.... It was time for an upgrade!
The Evolution: Version 2
On April 22, 2022, Catcoin holders were successfully migrated to the Catcoin V2 contract via a snapshot & an airdrop. Like many migrations, there was some turmoil, but the team and community banded together & completed this process securely & efficiently. Now, with the holders currently on a contract they can be proud of, the many benefits are illuminated to new investors.
The V2 contract includes a swap and liquify function, with funds going into the multi-sig wallet for marketing and funding utilities. It also includes reflection rewards for holders, as well as an auto-liquidity tax which allows the Catcoin team to get the exact liquidity ratio they desire flexibly.
The new V2 contract allows the Catcoin team to forge a blazing trail in the industry through its functionality by ensuring the safety of the community of holders who acquire this asset. It also removes all threats previously seen on the old contract, and the story of Catcoin begins anew!